Japan to Release New Economic Package Next Week

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Last updated at: (Beijing Time) Saturday, October 19, 2002

Japan to Release New Economic Package Next Week

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The Japanese government is to release a new comprehensive economic package next week mainly designed to fight deflation amid growing calls for quicker government action, Japanese Chief Cabinet Secretary Yasuo Fukuda said Friday.

The package will be compiled in time to be debated in Japan's House of Representatives Budget Committee when it opens sessions next Thursday, the top government spokesman said.

The House of Councillors Budget Committee will begin its sessions next Friday.

Fukuda's remarks came a day after Japan's Council of Economic and Fiscal Policy, a top governmental economic policy-setting panel, failed to include specific measures in an outline of the proposed package.

Japan's Economic and Fiscal Policy Minister Heizo Takenaka saidThursday the council would decide on the details of the package after a Financial Services Agency task force on bad loans compilesan interim report next week.

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